|To:||File No. S7-16-01|
|From:||Lisa N. Jones|
|Date:||May 13, 2002|
|RE:||Customer Margin Proposals Relating to Security Futures|
On May 10, 2002, the SEC had a telephone conversation with a Securities Industry Association ("SIA") and Futures Industry Association ("FIA") representative to discuss the customer margin proposal relating to security futures.